<ul><li>Commerce and Industry Minister Piyush Goyal highlighted the risks of global supply chains for critical minerals being overly dependent on a few geographies.</li><li>Goyal emphasized the importance of recognizing the dangers of critical minerals supply and processing being concentrated in specific regions to avoid serious risks to global economic development.</li><li>India is proactively pushing to develop homegrown alternatives for critical minerals to reduce overdependence, particularly by encouraging startups for R&D in finding smarter solutions.</li><li>The remarks by Goyal come in the context of China tightening export controls on rare earth magnets, leading to global concerns over supply chain vulnerabilities and prompting efforts by countries like India to localize production and reduce dependencies.</li></ul>

Piyush Goyal Flags Risks Of Critical Mineral Concentration, Pushes For Alternatives Amid China Curbs

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